Vermont Sports Betting: A Comprehensive Guide to the Green Mountain State's Exciting New Market

Introduction

Vermont sports betting is now a reality, and it's time to get in on the action! In this comprehensive guide, we'll cover everything you need to know about betting on sports in the Green Mountain State. We'll discuss the different types of bets you can make, the best sportsbooks to use, and the latest news and updates on Vermont sports betting.

Is Sports Betting Legal in Vermont?

Yes, sports betting is legal in Vermont. The state legislature passed a bill in 2021 that legalized sports betting and online gambling. The bill was signed into law by Governor Phil Scott in July 2021.

When Did Sports Betting Launch in Vermont?

Sports betting launched in Vermont on October 1, 2022. The Vermont Lottery Commission, which oversees sports betting in the state, selected BetMGM, DraftKings, and FanDuel as the three licensed sportsbook operators.

What Types of Sports Can I Bet On in Vermont?

You can bet on a wide variety of sports in Vermont, including:

• Professional sports: NFL, NBA, MLB, NHL, MLS, PGA Tour, NASCAR, etc.
• College sports: NCAA football, NCAA basketball, NCAA hockey, etc.
• International sports: Soccer, rugby, cricket, tennis, golf, etc.
• Esports: League of Legends, Dota 2, Counter-Strike: Global Offensive, etc.

What Types of Bets Can I Make in Vermont?

There are many different types of bets you can make on sports in Vermont, including:

• Moneyline bets: Betting on which team will win a game.
• Spread bets: Betting on the margin of victory in a game.
• Over/under bets: Betting on the total number of points, runs, or goals scored in a game.
• Prop bets: Betting on specific events or outcomes within a game, such as who will score the first touchdown or which team will win the coin toss.

Which Sportsbooks are Available in Vermont?

The following sportsbooks are currently available in Vermont:

• BetMGM
• DraftKings
• FanDuel

How to Choose the Best Sportsbook for You

When choosing a sportsbook, there are a few things you should consider, including:

• Odds: The odds offered by a sportsbook are important, as they will affect your potential winnings.
• Betting options: The number and variety of betting options offered by a sportsbook is also important.
• User interface: The user interface of a sportsbook should be easy to use and navigate.
• Customer service: The customer service of a sportsbook should be responsive and helpful.

Vermont Sports Betting Revenue

In the first month of operation, Vermont sportsbooks generated $1.2 million in revenue. This number is expected to grow in the coming months and years.

Vermont Sports Betting Taxes

The tax rate on sports betting winnings in Vermont is 14.25%. This is the same tax rate that is applied to lottery winnings.

Vermont Sports Betting Responsible Gambling

If you or someone you know has a gambling problem, please seek help. The Vermont Department of Health has a toll-free helpline at 1-800-GAMBLER (1-800-426-2537).

Stories and What We Learn

Story 1: The Vermont Bettor Who Won Big on the Super Bowl

In February 2023, a Vermont bettor placed a $100 bet on the Los Angeles Rams to win the Super Bowl. The Rams won the game, and the bettor won $1,500.

What we learn: Betting on sports can be a great way to win money. However, it's important to remember that gambling is always a risk. Only bet what you can afford to lose.

Story 2: The Vermont College Student Who Used Sports Betting to Pay for Tuition

In May 2023, a Vermont college student used sports betting to pay for his tuition. The student bet on a number of college basketball games and won enough money to cover the cost of his tuition.

What we learn: Sports betting can be a way to make money, but it's important to be responsible and to only bet what you can afford to lose.

Story 3: The Vermont Sportsbook Owner Who is Giving Back to the Community

In June 2023, a Vermont sportsbook owner donated $100,000 to a local charity. The sportsbook owner said that he wanted to give back to the community that had supported his business.

What we learn: Sports betting can be a positive force in the community. Sportsbooks can generate revenue that can be used to support local businesses and charities.

Effective Strategies for Vermont Sports Betting

Here are a few effective strategies for Vermont sports betting:

• Do your research. Before you place a bet, make sure you understand the teams and players involved.
• Shop for the best odds. Compare the odds offered by different sportsbooks before you place a bet.
• Manage your bankroll. Only bet what you can afford to lose.
• Set a budget. Decide how much money you are willing to spend on sports betting each month.
• Don't chase your losses. If you lose a bet, don't try to win it back by betting more money.
• Take advantage of promotions. Sportsbooks offer a variety of promotions, such as free bets and deposit bonuses.
• Use a betting system. A betting system can help you to make more informed decisions and increase your chances of winning.

Call to Action

Now that you know everything you need to know about Vermont sports betting, it's time to get started! Sign up for an account with one of the licensed sportsbooks in Vermont and start placing your bets.

Additional Resources

• Vermont Lottery Commission Sports Betting website
• Vermont Department of Health Gambling Helpline

Tables

Table 1: Vermont Sportsbook Revenue

Table 2: Vermont Sports Betting Taxes

Table 3: Effective Vermont Sports Betting Strategies